Rosenblatt Securities Reaffirms Neutral Rating for Navitas Semiconductor (NASDAQ:NVTS)

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “neutral” rating reiterated by investment analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $13.00 price objective on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 4.84% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Monday, September 14th. Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley restated an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.92.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock traded up $0.28 on Tuesday, reaching $12.40. The company had a trading volume of 24,657,082 shares, compared to its average volume of 23,632,738. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -9.32 and a beta of 3.96. The firm’s 50-day moving average price is $12.01 and its two-hundred day moving average price is $15.13. Navitas Semiconductor has a 1 year low of $6.85 and a 1 year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.25) EPS. As a group, analysts anticipate that Navitas Semiconductor will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of NVTS. Tidal Investments LLC raised its position in Navitas Semiconductor by 161.2% during the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock valued at $20,289,000 after purchasing an additional 698,683 shares in the last quarter. Engineers Gate Manager LP raised its position in Navitas Semiconductor by 180.5% during the 2nd quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock valued at $2,102,000 after purchasing an additional 75,478 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $121,000. Arizona State Retirement System raised its position in Navitas Semiconductor by 22.4% during the 2nd quarter. Arizona State Retirement System now owns 57,314 shares of the company’s stock valued at $1,027,000 after purchasing an additional 10,486 shares in the last quarter. Finally, Nykredit A S bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $130,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation is a fabless semiconductor company that develops power-management technologies based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to improve the efficiency, power density and size of electronic power systems by integrating power semiconductors with control, drive and protection circuitry.

The company offers GaN power integrated circuits, SiC MOSFETs and related power-management solutions for applications including mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, industrial equipment and other high-power systems.